Pharmaceutical and biotechnology company Laurus Labs reported 32% year-on-year (YoY) rise in profit after tax to INR 203 crore for the quarter ended December 31, 2022. The company had reported a net profit of INR 155 crore in the same quarter, previous fiscal year.<\/p>\n\n\n\n
The company’s consolidated revenue from operations for Q3FY23 came in at about INR 1,544.82 crore, up 50.16% YoY, whereas total expenses stood at INR 1,268.4 crore, recording an increase of 52.7% YoY. The company also spent INR 153 crore on R&D in 9M FY23. Laurus Labs’ EBITDA improved to INR 404 crore in Q3FY23, recording 39% YoY growth. The EBITDA margin stood at 26.1% in the quarter. Its EPS for the period stood at INR 3.7 per share.<\/p>\n\n\n\n
\u201cOur Q3 and 9M of 2023 results reflect sustained business momentum across our key growth drivers, which is visible in our commercial execution within CDMO, and Non-ARVs generic portfolio. Growth is also supported by anticipated recovery in the ARV FDF segment, which is likely to continue despite pricing challenges. We also made additional advancements in our R&D initiatives and brought new capacities online,” said Satyanarayana Chava, Founder & CEO of Laurus Labs.<\/p>\n\n\n\n
Its API business revenue reported INR 632 crore during Q3, which increased 49% YoY. Other APIs also saw strong growth at 33%, following a ramp-up in the new contract supplies. However, FDF revenues for the quarter declined 33% to INR 249 crore. Growth is impacted by lower demand and adverse prices in the ARV formulations, the company said in a release.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pharmaceutical and biotechnology company Laurus Labs reported 32% year-on-year (YoY) rise in profit after tax to INR 203 crore for the quarter ended December 31, 2022. The company had reported a net profit of INR 155 crore in the same quarter, previous fiscal year. The company’s consolidated revenue from operations for Q3FY23 came in at […]<\/p>\n","protected":false},"author":1863,"featured_media":27118,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[392,5753],"tags":[10304,11463,9138],"class_list":["post-143078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings","category-industrials","tag-api","tag-biotech-pharma","tag-pharma"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":140654,"url":"https:\/\/alphastreet.com\/india\/tata-chemicals-reported-a-26-rise-in-its-net-profit-in-q3fy23\/","url_meta":{"origin":143078,"position":0},"title":"Tata chemicals reported a 26% rise in its net profit in Q3FY23","author":"Chirag Gupta","date":"February 9, 2023","format":false,"excerpt":"Tata Chemicals reported a 25.72% year-on-year (YoY) rise in its net profit to INR 391 crore for the quarter ended December 31, 2022. 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